Singapore Continues to be a Leading Hub for Entrepreneurs and Start-ups

If you want to learn about Singapore and how it’s become a great place for entrepreneurs to work and play, you’ll benefit from reading our quick guide.

Today, we’re going to showcase the latest developments for entrepreneurs and start-ups during the third quarter of 2016. Once you’ve learned just how vibrant the entrepreneurial scene is in Singapore, you may just be tempted to get involved yourself.

Now, let’s share some important facts and figures from Quarter Three of this year…

Quarter Three Facts and Figures

Seventy-six percent of firms in Singapore have share capital of ten thousand dollars or less. The others have higher share capital. These figures come from the Singapore New Business Trends report, which is produced by Hawksford. Overall, companies gained one percent in assets since the second quarter of 2016. Singapore is becoming a more appealing place to do business and this small but significant increase is definitely a sign of good things to come.

Since many other countries aren’t showing the same growth and prosperity, a lot of entrepreneurs or taking a closer look at Singapore.

While the global economy is a bit shaky, entrepreneurs are choosing Singapore in ever-greater numbers. They appreciate the country’s regulatory rules, which are very business-friendly. These regulations make it easier for firms to access formal business registration. For example, it’s possible for Singapore companies to get started as companies with as little as one dollar in share capital. This is such a low amount and this makes it easier for everyone to get started in business.

As well, Singapore is a great place for enterprises which are foreign to establish centers of operation, as well as centers for innovation.

While worldwide economic recovery is a bit weak overall, Singapore business is booming, especially via foreign companies. At present, thirty-two branch offices of foreign companies have registration in the country. The percentage of foreign subsidiaries and firms created by foreign persons or groups remain stable at forty-seven percent/forty-four percent.

During the third quarter, a company known as Dentsu Aegis Network created a new innovation center in Singapore. As well, Phillips created a center for application and CITIC created a center for innovation. A big energy conglomerate, named ENGIE, created a lab which is committed to developing green energy sources.

Singapore Supports Its Entrepreneurs

Singapore has long been known for its impressive support to entrepreneurs and start-ups. For example, this island city-state is definitely doing all that it can to help the fintech industry thrive. As well, it offers hubs for entrepreneurs which allow them to get their start-ups prepared for big and successful launches.